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Tep Exchange Group narrows losses

Traded endowment policy firm Tep Exchange Group says it has narrowed its losses to £83,000 in the first six months of this year from £819,000.

It says this is due to increasing the number of IFAs registered with it and forming trading alliances with IFA portals to increase trading in Teps.

It believes FSA policy statement 106 being introduced next month will significantly increase levels of activity.

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